,,ii  #aafth ,,congress  #ast ,session  
,s4 #begb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #bf1
 #bjai,mrs4 ,shaheen introduced the     
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to limit the collection of     
annual premiums under the ,,fha program 
for mortgage insurance for single family
 housing1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,,fha ,loan ,affordability ,act of  
#bjai4  #b4 ,annual premiums ,section   
#bjc7;c77#b7 of the ,national ,housing  
,act 7#ab ,u4,s4,c4 #agji7;c77#b77 is   
amended--  7#a7 in subparagraph 7,b7--  
7,a7 in clause 7i71 by striking ,for any
 and inserting ,subject to subparagraph 
7,d71 for any2 and  7,b7 in clause 7ii71
 by striking ,for any and inserting     
,subject to subparagraph 7,d71 for any2 
7#b7 in subparagraph 7,c77i71 by        
striking ,in addition and inserting     
,subject to subparagraph 7,d71 in       

addition2 and  7#c7 by adding at the end
 the following3  7,d7 ,the ,secretary   
may not collect any annual premiums     
under this paragraph with respect to a  
mortgage at any time that the remaining 
insured principal balance 7excluding the
 portion of the remaining balance       
attributable to the premium collected   
under subparagraph 7,a77 is #gh percent 
or less than the lower of 7i7 the sales 
price of the dwelling at the sale in    
connection with which the mortgage was  
made1 or 7ii7 the appraised value of the
 dwelling at the time of the origination
 of the mortgage4  4